Will Osaka’s Big Dream to Open an Integrated Resort for 2025 World Expo Come True?

Osaka has been one of the most ambitious cities interested in being among three selected destinations to accommodate an integrated resort in Japan. Moreover, the city hopes that the project will come to life…

…in time for the 2025 World Expo that it’s hosting. However, government delays postpone the realization of IRs, while MGM, as one of the frontrunners, still has high hopes.

Time as the Biggest Enemy

According to the viewpoint ed by consultancy firm, Global Market Advisors, which actually issued a report, the potential timeline represents the huge sticking point at the moment. With 67 months until the start of 2025, it is necessary to grant licenses in the next 12 months so that the plans to open complete integrated resorts by that time still stands a chance. As far as the reports claim:

“If there is not a process in place by the second quarter 2020, it is unlikely that a fully integrated resort would be open in time to meet the desires of Osaka for the World Expo in 2025.”

MGM Optimistic

There are several huge parties expressing interest in conquering the region on the Japanese island of Honshu. As far as Osaka major, Ichiro Matsui, listed, those are Galaxy Entertainment Group, Genting Singapore, MGM’s, Murren, announced:

“We are not at all troubled by the rules that have been laid out. We actually find them to be competitively favorable to us. We don’t prefer the junket model, so we’re not concerned that the junket model will not exist in Japan. I can’t think of an opportunity in the world today with as potentially high a return on investment: even given everything we know, construction costs, regulations, taxes, gaming restrictions, entry fees… it is an extraordinary opportunity.”

Murren Weighs In

Murren stressed out that Osaka was “the only city, the only prefecture” that MGM wanted to host an IR after looking at various “great potential locations.” What proves so is the fact that Murren has been around Japan for five years, investigating the potential for the realization of such a huge project, like IRs are. He declared as follows:

“Whoever wins is going to have their work cut out because the goal is to try to get the IR open in time for the World Expo in 2025. It requires almost surgical precision, not just by the developer, but by the government, from a permitting perspective [and] from an infrastructure perspective. It’s certainly not impossible.”

Source:

“Osaka to struggle in 2025 Japanese IR construction aim”, casinobeats.com, June 5th 2019.